OUR SERVICES
Funding Options for Every Need
We provide assistance with business loans in every way possible.
Working Capital Loan
A working capital loan helps companies with their everyday expenses like paying employees, renting space, and buying inventory.
- Finance daily operations
- Cover short-term business expenses
As announced in Budget 2024, the maximum loan quantum for Enterprise Financing Scheme – SME Working Capital Loan will be enhanced to S$500,000 permanently from 1 April 2024 onwards. Local SMEs can continue to apply for loans of up to S$500,000 for a maximum loan duration of five years, with the interest rate determined based on risk assessment. To facilitate access to working capital loans, SPRING shares the risk of loan defaults with Participating Financial Institutions (PFIs) in case of company insolvency. Companies applying for the SME WCL must meet certain criteria, including being registered and operating in Singapore, having at least 30% local shareholding, and meeting specified sales and employment thresholds.
Trade Financing
Trade financing are credit instruments used to finance your company’s trade cycle. Usually, banks offers a 90 to 120 days pre-approved revolving credit line.
- Reduced risk with improved creditability
- Enhanced liquidity to support ongoing operations
With a trade financing credit line, you can issue a bank’s LC (Letters of Credit) to your overseas suppliers or pay directly to local suppliers who have delivered goods to you. You can then convert the LC to a TR (Trust Receipt) with 90 to 120 days credit terms.
A LC provides reassurance to your suppliers, ensuring they feel secure in the payment process. Likewise, it allows you to verify and approve payments from your trade accounts only when your supplier’s documentation has been verified by the issuing bank or financial institution, offering an added layer of protection.
Business Overdraft
OD(Overdraft) is a useful facility to plug short term working capital gaps. Interest on overdraft also tends to be higher than term loan, usually calculated daily and debited monthly.
- Fund short term trading cycle
- Flexible amount within the granted limit
The calculation of interest for overdrafts differs from that of business term loans. Overdraft interest is typically calculated daily and debited monthly, while term loans use a monthly reducing amortization basis. Interest rates for overdrafts are often slightly higher than those for term loans.
Overdrafts are valuable for addressing short-term working capital gaps, typically spanning a few weeks to a month. However, they should not be relied upon as a long-term financing solution for SMEs.
Property Loans
Check out the lowest interest rates now to finance property loans. Find out more about how savvy SME owners use properties as collateral for business financing purposes for higher quantum.
- Lowest in interest rate
- Finance up to 80% of the valuation
When obtaining a property loan, you have the flexibility to select either a fixed or floating interest rate, and repayment periods can extend up to 25 years.
Additionally, commercial property loans can be bundled with overdraft and trade facilities, providing stability to your daily cash flow while your property investment generates returns.
Tip: If you are considering purchasing property, do note to apply for financing first before committing Option-To-Purchase to the seller. This is to gauge the maximum financing amount your company is eligible for without risking the loss of your deposit.
Private Funding
Private financing refers to loans provided by private organisations to companies. These lenders are commonly referred to as private funders.
- Flexibility in terms of loan structure
- Typically faster than traditional lending institutions
When traditional loan facilities may not be suitable, and you require a shorter-term solution of 3 to 12 months or seek additional funding beyond cash flow optimization, private funding offers an alternative. B2B funding for incorporated companies provides debt financing supported by independent investors, with shorter terms compared to traditional bank financing. With the necessary documentation and approval, financing can be obtained as quickly as 5 days after an on-site visit, enabling rapid expansion for busy entrepreneurs and fostering further business growth.
Private financing often entails higher borrowing costs compared to traditional bank loans, as the risk of borrowing and the cost of funding are generally higher in this type of lending, including MAS-regulated licensed lending.
Personal Loan
When immediate financial assistance is required, a personal loan from a reputable bank emerges as a solution, to meet short-term borrowing needs.
- Address financial needs promptly
- Offer flexibility in how the funds can be used
This type of loan involves borrowing a specified amount from a bank or financial institution and repaying it through regular fixed instalments over a predetermined timeframe.
However, meeting a minimum income threshold and undergoing a credit history evaluation are commonly expected.
Nevertheless, obtaining a personal loan from a bank generally offers more affordable and secure terms compared to engaging with a moneylender.
Bear in mind that personal loans are for emergency situations and short-term usage, but should you find yourself needing one, you should always compare your options.
OUR SUPPORT
Embark on a journey to success
We’ve been helping companies with their local presence since 2018. The typical small and medium enterprises profile that we serve is SMEs generating between $100K and 20 million in revenue.
Best support for clients
Feel confident knowing that our team is always ready to answer any questions you may have.
Personalised Guidance
We offer tailored strategy to position your business base on financial situation and goals.
100% Efficiency
Instead of going from one bank to another, we take care of all necessary steps for our clients.
Free options comparison
With access to wider range of loans, we increase chances of securing favourable loan terms.
Unlock funding to grow your business today!
When things get tough, we’ll be right here beside you. We share your goal towards success, and we’re proud of the strong relationships we’ve built with our clients.
